Homeowners insurance, also known as home insurance, protects your housing investment. The insurance policy covers the house and other valuables inside. It is a mix of different coverage types, covering areas such as the house (structure), fence, barn, personal belongings in the house, property damage (liability coverage), etc. The insurance also covers additional living expenses such as payment for lodgings in cases where you cannot sleep in your home due to damage or the other. Homeowners insurance offers a protective net for your home in case of fire or theft. So, homeownership goes together with homeowners insurance. Keep reading to know more about List Of Homeowners Insurance Companies To Consider.
Since this is important insurance coverage to have, it is important to consider homeowners insurance companies that offer the best service. There are many of these insurance companies across the United States, and they all have different areas they are good in. Erie Insurance offers the best in coverage perks, Lemonade offers the best when it comes to pricing, USAA is best for military and veterans, Farmers Insurance is good for extended coverage and dwelling, Chubb Limited is good for high-value homes, etc. The list of some of the homeowners’ insurance companies to consider is below:
- Lemonade
- USAA
- Geico
- State Farm
- Allstate
- The Travelers Companies
Lemonade
- The annual insurance price is higher than all other insurance companies with a difference of about $300. This means they offer competitive services compared to others
- Unclaimed rights of clients get donated to charity at the end of the year
- Insurance claims are paid quicker and filing a claim is hassle-free
- Lemonade is only available in Washington D.C. and 23 other states which are Ohio, Missouri, Wisconsin, Texas, Arizona, Colorado, Georgis, California, Indiana, Maryland, Illinois, Connecticut, Massachusetts, Nevada, Michigan, New York, Oregon, New Jersey, Virginia, Tennessee, Oklahoma, Pennsylvania, and Iowa.
State Farm
- State Farm insurance is available across all states in the United States
- They offer personalized customer service through local agents, which are preferred by some homeowners over call centers and online claims.
- The homeowner’s insurance with State Farm offers additional coverings for jewelry, furs, silverware, and firearms.
- The national average for homeowners insurance cost is $1,249 and the annual premium quote in State Farm is $1,003, which is less.
Geico
- Available in all 50 states, it provides inexpensive basic coverage with a wide range of additional coverage options
- Some of these additional coverage options are personal injury coverage, utility line coverage, etc.
- If you already have Geico auto insurance, then it is advisable to go for the homeowner’s insurance too, to keep all your insurance policies in one place.
- Annual premium insurance in Geico costs $921 which is less than the national average.
Allstate
- Their website has a home value estimation tool that helps clients calculate the amount of dwelling coverage they need.
- It is available in all 50 states and offers bundling discounts if you already have Allstate insurance for auto, motorcycle, life, or renters.
- The price for annual premium coverage is $1,349 which is higher than the national average of $1,249
USAA
- This insurance company is only available to military men and veterans who have served in the United States Armed Forces and their families.
- Even though its customer base narrowed down, USAA has above 13 million customers
- Customers enjoy bundling discounts if they combine homeowners insurance with USAA renters, life, and auto insurance
- This insurer is present in all 50 states of the United States.
The Travelers Company
- Their coverage option is customizable to suit the need of the client
- Coverage may be denied if you have a dog of certain breeds
- The cost for the annual premium is $1,220 which is below the national average.
How to Search for Good Insurance Company?
- Know the best insurance option to choose based on your location. This is determined by common causes of loss in your neighborhood.
- Research the financial strength of your potential insurer choice. It is often found on the company’s website
- Also, check ratings of the company by other organizations, and read reviews about customers’ satisfaction.
- Compare the quotes from different companies to know the one that is best for you in terms of price and coverage.
Insurance Companies to Avoid
- American Family
- Hartford
- Chubb
- Homesite
- Liberty Mutual
Insurance Companies to Trust
- Lemonade
- Amica
- Erie Insurance
- USAA
- State Farm
Conclusion
A good home insurance policy will put your mind at rest about fire accidents, theft, or natural disasters. Since every home is different, it is important to compare the available options yourself to get the best choice because one size does not fit all.
FAQs
- How do I get insured in a homeowners insurance policy?
Get a quote from your insurance provider based on your home needs.
- What is not covered in homeowners insurance?
Repair due to poor home management is not covered in the homeowner’s policy.
